TOKYO, Jan 20 (Reuters) - Mitsubishi Chemical Group ( MTLHF ) has given

the U.S. investment fund Bain Capital the right of first refusal to negotiate

the purchase of its pharmaceutical subsidiary, Tanabe Mitsubishi Pharma, the

Nikkei reported on Monday.

Mitsubishi Chemical ( MTLHF ) is likely to sell Tanabe Mitsubishi Pharma to Bain

Capital for more than 500 billion yen, the report said.